Bonava Builds 300 New Homes by Lake Harku in Haaberstis

Housing development company Bonava acquired a 25,564 m² property in Haabersti district, where according to the detailed plan, it is possible to build 7 buildings with a total of 297 apartments.

"With the property purchase, Bonava has strengthened its position in what is currently the fastest-growing district in Tallinn. Bonava has already completed several projects in Haabersti, and with this new property we ensure continuity in our portfolio and continue to implement our strategy – to provide new and high-quality living environments to many people," said Taavi Soorm, Managing Director of Bonava Estonia.

"Haabersti district is very familiar to us, we have created over 1,000 new homes here and we believe in the potential of the area. We continue to see demand for modern homes at affordable prices with good access to nature. Haabersti district is developing rapidly thanks to several new developments and has become an increasingly attractive living environment," Soorm added.

"A major advantage of the acquired property is its proximity to Lake Harku and the views it will create for future residents. The 7-9-storey buildings will have underground parking and be surrounded by thoughtfully designed courtyards, we will create diverse apartment layouts to offer something for every taste. In addition, we will also build a public park on the property for all residents of the district," described Kätlin Villmann, Development Director at Bonava.

"For Bonava, the location is valuable because it allows us to create a larger integrated neighborhood in phases, and since the property already has a valid detailed plan in place, we can start the design work immediately and bring new homes to the market as quickly as possible," explained Villmann.

The acquired property is located at Paldiski Road 229, 229a, 229b, with the total investment amount reaching 45 million euros.

Bonava has 10 locations in its development portfolio in Tallinn and the surrounding area. Together with projects currently under construction and those still in preparation, Bonava plans to create over 2,000 new homes in Estonia over the next 10 years.